True Opens 🧪 [Pro +] | cephxs

TRUE OPENS 🧪 [Pro +]

This indicator reflects, and is based on Public Domain Information available online. Utilizing concepts by Daye and ICT.

Multi-timeframe True Open indicator displaying key price levels across Micro, 90-minute, Daily, Weekly, and Monthly cycles with automatic timeframe visibility gating.

OVERVIEW
True Opens identifies the opening price of the second quadrant (Q2) across multiple "quarterly" cycles. In quarterly cycle theory, Q2 represents the "True Open" - a significant reference point where price often returns to during the cycle. This indicator automatically plots these levels across five timeframes, helping you identify key premium/discount zones and potential reversal areas.

WHAT IS A TRUE OPEN?
Each market cycle divides into four quarters (Q1-Q4). The Q2 opening price - the "True Open" - acts as a gravitational level that price tends to respect throughout the cycle. Understanding where these levels sit across multiple timeframes gives you confluence zones for higher-probability trade setups depending on your strategy. It is mostly tailored to quarterly theory traders.

FEATURES

• 5 Cycle Levels: Micro (~22min), 90-minute, Daily (6H sessions), Weekly, and Monthly True Opens
  
• Auto Display Mode: Automatically shows relevant True Opens based on your chart timeframe
  
• Session Labels: Clear identification of Asia, London, NY, and PM session True Opens
  
• Smart Weekly Detection: Uses trading day logic for accurate Weekly True Open on all assets
  
• DST-Aware: Timezone handling automatically adjusts for daylight saving time
  
• Visual Clarity: Dashed lines during active Q2, solid lines after confirmation
  
• Historical Mode: Option to display past True Opens for backtesting reference
  

CYCLE BREAKDOWN

• Micro: 64 sessions per day (~22.5 min each), 16 micro cycles - ideal for scalping
  
• 90-Minute: 4 major sessions (Asia, London, NY, PM) each with 4 quarters - intraday trading
  
• Daily: 4 x 6-hour sessions per day - swing/intraday trade reference, slightly longer term
  
• Weekly: Tuesday open = Weekly True Open (Q2 of the week) - swing trading
  
• Monthly: Second week of month = Monthly True Open - macro bias
  

INPUTS
Master Toggles

• Show Micro True Opens: Toggle micro-level True Opens
  
• Show 90m True Opens: Toggle 90-minute session True Opens
  
• Show Daily True Opens: Toggle daily cycle True Opens
  
• Show Weekly True Opens: Toggle weekly True Opens
  
• Show Monthly True Opens: Toggle monthly True Opens
  

Display Mode

• Auto: Automatically shows appropriate True Opens for current timeframe
  
• Custom: Define your own visibility ranges per cycle level
  

Colors

• Fully customizable colors for each cycle level
  

Settings

• Active Line Bar Offset: How far labels extend from current bar
  
• Show Historical True Opens: Display past cycle True Opens
  

HOW TO USE

1. Add indicator to your chart
   
2. Use Auto mode for automatic timeframe-appropriate display
   
3. Watch for price reactions at True Open levels
   
4. Look for confluence when multiple True Opens align
   

RECOMMENDED TIMEFRAMES

• 1-minute: Micro True Opens visible
  
• 3-5 minute: 90m True Opens visible
  
• 15min - 1H: Daily True Opens visible
  
• 1H - 4H: Weekly True Opens visible
  
• 4H - Daily: Monthly True Opens visible
  

BEST PRACTICES

• Combine with market structure analysis for confirmation
  
• True Opens can be used as time based Premium and Discount Levels
  
• Multiple True Opens near same price = strong confluence zone (Stacked True Opens)
  
• Weekly and Monthly True Opens carry more weight for directional bias
  
• Use Micro True Opens for precision entries on lower timeframes
  

ASSETS
Works on all markets: Forex, Crypto, Indices, Stocks, and Futures. Weekly True Open detection uses smart trading-day logic that handles assets with non-standard session opens (e.g., ES futures opening Sunday 6PM).

DISCLAIMER

This indicator is for educational and informational purposes only. It does not constitute financial advice. Past performance does not guarantee future results. Always conduct your own research and use proper risk management. Trade responsibly.

CHANGELOG

• v1.0: Initial release with 5-level True Open system
  

with ❤️ from cephxs